The share offer is likely to be valued at the lower end of expectations but is still expected to make dollar billionaires of chief executive Ivan Glasenberg and three top trader colleagues. The listing, which could be the biggest ever on the London market, will be backed by cornerstone investors including Swiss private banks, Middle Eastern sovereign investment funds and hedge fund managers. Abu Dhabi's sovereign wealth fund is poised to become the company's biggest shareholder after its employees. The company will also have a listing on the Hong Kong market. The emirate of Qatar recently said it is considering backing the company. The company has come under fire from corporate governance campaigners over the appointment of chairman Simon Murray, who last month made controversial comments about women in the boardroom.
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The share offer is likely to be valued at the lower end of expectations but is still expected to make dollar billionaires of chief executive Ivan Glasenberg and three top trader colleagues. The listing, which could be the biggest ever on the London market, will be backed by cornerstone investors including Swiss private banks, Middle Eastern sovereign investment funds and hedge fund managers.
Abu Dhabi's sovereign wealth fund is poised to become the company's biggest shareholder after its employees. The company will also have a listing on the Hong Kong market. The emirate of Qatar recently said it is considering backing the company. The company has come under fire from corporate governance campaigners over the appointment of chairman Simon Murray, who last month made controversial comments about women in the boardroom.
It has also faced questions about the independence of some board members, including ex-BP boss Tony Hayward, a mutual friend of Glasenberg and Rothschild. Glencore wants to merge with London-listed miner Xstrata but has run into obstacles over pricing. Some observers fear its float may signal the top of the commodities cycle. Some links in this article may be affiliate links.
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Glencore set to unveil flotation prospectus
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Glencore moves nearer to IPO with $2.2 billion bond sale
Back to News. This press release relates to the disclosure of information that qualified, or may have qualified, as inside information within the meaning of Article 7 1 of the EU Market Abuse Regulation. Pursuant to and in accordance with the Conditions, Glencore hereby notifies the holders of the Bonds of the following determinations and calculations:. Download release in pdf. The Group's operations comprise around mining and metallurgical sites, oil production assets and agricultural facilities. With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.